Pension gripes increase by two thirds Maxwel
Wednesday 31 July 1996
But the sharp increase in complaints partly reflects an increased public awareness of the performance of their pensions funds, as a direct result of publicity over the mis-selling of personal pensions and the Maxwell scandal, Mr Farrand said.
The number of initial complaints received in the year covered by the report increased by two thirds to 3,639, but many of these were referred on to other ombudsmen or to the Occupational Pensions Advisory Service. Dr Farrand's office itself took on 829 new cases.
With the 225 already in hand at the beginning of the year the new complaints trebled his caseload to a record 1,054, compared with the previous 12 months.
The number of complaints dealt with by the office was up by 130 per cent to 401, with an average pay-out of around pounds 15,000 where complaints were found to be justified.
The biggest single award was for pounds 30 million against the food company Hillsdown Holdings after Dr Farrand found that it had acted unlawfully in siphoning pounds 18.4m of surplus pension funds for its own use.
The pensions ombudsman's decision, which was upheld in the High Court, included the payment of interest as well as the repayment of the pension money.
The most common complaints to the ombudsman were difficulties resulting from the winding-up of pension schemes when companies have closed down.
Individuals also complained about delays in getting benefits transferred from one employer's pension scheme to another after moving to a new job and therefore starting with a replacement pension scheme.
Other causes for concern included over-optimistic quotations of pensions due in the case of redundancy or early retirement and problems with pension payments or other benefits.
- 1 New Zealand 'the best country to work as a prostitute', says sex worker advocacy group
- 2 Purity balls: Girls in the US making virginity pledges as fathers vow to 'protect purity'
- 3 Mother 'will allow son's circumcision in return for release from prison'
- 4 Puerto Rico, island of lost dreams: People are leaving the debt-hit territory in droves as near neighbour Cuba's star rises
- 5 Female Muay Thai champion hustles coaches to give them a beating
Purity balls: Girls in the US making virginity pledges as fathers vow to 'protect purity'
Puerto Rico, island of lost dreams: People are leaving the debt-hit territory in droves as near neighbour Cuba's star rises
Female Muay Thai champion hustles coaches to give them a beating
16-year-old girl beaten and burned alive by lynch mob in Rio Bravo, Guatemala
Warren Buffett thinks the poor should stop blaming inequality on the rich
As a white man, I'm surprised more women aren't tweeting the hashtag #KillAllWhiteMen
Scotland may have to leave the EU even if it votes to stay in, David Cameron confirms
Report finds that Britain's wages are the most unequal in Europe
The day that Britain resigned as a global power
Almost a third of school pupils believe 'Muslims are taking over our country', study claims
Gay marriage 'Bert and Ernie' cake bakery found guilty of discrimination in Northern Ireland
iJobs Money & Business
£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...
£45,000 - £55,000: Neil Pavier: Are you looking for your next opportunity for ...
£45,000 - £55,000: Sheridan Maine: Are you a newly qualified ACA/ACCA/ACMA qua...
£50,000 - £60,000: Laura Norton: Are you looking for an opportunity within a w...